Trump’s first 100 days: U.S. climate rollbacks shake global green transition

Trump criticizes Biden’s carbon reduction policies as "crippling the economy" and moves to roll back clean energy initiatives. (Photo: The White House) 

As U.S. President Donald Trump marked his first 100 days back in office on April 30, he had already signed more than 100 executive orders—aggressively dismantling his predecessor’s policies and unleashing a tariff shockwave that rattled global trade markets. His dismissive stance on climate change has also fueled a brewing backlash against ESG initiatives. 

In our special series, "Trump’s First 100 Days," RECCESSARY explores the far-reaching impact of Trump’s tariff agenda, climate policies, and corporate strategies, offering an in-depth look at how the renewable energy sector is bracing for disruption. 

As U.S. President Donald Trump marks his first 100 days back in office, his administration has already dismantled many of the previous administration’s policies. Trump's moves include scrapping emissions and environmental regulations, cutting clean energy subsidies, and doubling down on fossil fuel production. This aggressive rollback not only threatens U.S' own energy transition but is also sending shockwaves through global climate governance. 

U.S. clean energy subsidies slashed, hundreds of projects under review 

One of Trump’s first acts was to withdraw from the Paris Agreement, declare a "national energy emergency," and cancel federal subsidies for electric vehicles (EVs)—delivering a seismic blow to the global clean energy industry. Throughout his speeches, Trump has repeatedly emphasized an "America First" agenda, claiming that the pursuit of net-zero emissions sacrifices American workers and manufacturers. 

A longtime supporter of the fossil fuel industry, Trump has reversed key Biden-era policies by cancelling federal tax credits for solar and wind projects and expanding oil and gas drilling rights on federal lands.  

According to documents obtained by the Associated Press, the Department of Energy has already terminated two clean energy grants awarded to the nonprofit RMI for being "inconsistent with current administration goals." One grant, worth $5.3 million, was intended to retrofit low-income housing in Massachusetts and California for energy efficiency. Another $1.5 million grant was earmarked for researching EV-sharing models in American cities. 

In addition, approximately 300 clean energy projects are now under review, spanning wind, solar, energy storage, and EV infrastructure. Many of these initiatives were funded through the 2021 Infrastructure Investment and Jobs Act. Energy outlet E&E News reports that the Trump administration is drafting a "blacklist" of projects that may lose funding, totaling billions of dollars in potential cuts. 

On the regulatory front, the Environmental Protection Agency (EPA) has launched the largest deregulation effort in its history. Trump's administration has targeted Obama- and Biden-era climate rules, including power plant carbon limits, vehicle emissions standards, and water protection measures. Controversially, the EPA is also considering overturning previous scientific findings that classify greenhouse gas pollution as harmful—a move that could strip the EPA of its authority to regulate carbon emissions altogether. 

Trump effect spreads globally: Climate finance falters in Southeast Asia, EU eases sustainability rules 

As the world’s largest economy, the U.S.’ climate policy shift under Trump is rippling across the globe. After Trump's withdrawal from the Paris Agreement, countries like Indonesia and Argentina reportedly considered following suit, raising concerns about a backslide in regional climate cooperation. 

In Europe, Trump's aggressive trade and industrial policies have exerted external pressure on the EU. Facing intensifying competition from U.S. and Chinese firms, the EU is recalibrating its sustainability rules to strike a balance between climate ambition and economic resilience. 

Recent EU efforts include revising the Corporate Sustainability Reporting Directive (CSRD), the Corporate Sustainability Due Diligence Directive (CS3D), and the EU taxonomy for sustainable activities. These revisions aim to simplify reporting requirements, ease corporate burdens, and boost industrial competitiveness. Some European governments are also reassessing green spending allocations and even loosening environmental standards to ease economic pressure. 

Meanwhile, the U.S. regulatory rollback is fueling growing uncertainty around ESG investing, shaking investor confidence in corporate climate commitments. To mitigate political risks, major U.S. banks—including JPMorgan Chase and Citigroup, and four others—have withdrawn from the Net-Zero Banking Alliance (NZBA). Together, these six banks manage over $14.29 trillion in assets, accounting for about 20% of NZBA’s total. 

Together, the six banks manage over $14.29 trillion in assets, accounting for about 20% of the NZBA’s total. Their exit is expected to significantly shrink the global pool of climate finance, delivering a particularly heavy blow to emerging markets like Southeast Asia. Not only could this raise financing costs for climate infrastructure projects, but it may also prolong these countries' reliance on fossil fuels. 

The Trump administration’s cuts to foreign climate aid further compound the challenge. According to climate media outlet Carbon Brief, roughly 10% of global climate finance is now at risk—funds that were originally earmarked for renewable energy projects, climate resilience, and energy efficiency improvements in developing nations. 

ASEAN member states convene in April to discuss strategies for responding to reciprocal tariffs, agreeing to strengthen cooperation to manage currency and capital market volatility. (Photo: Tengku Zafrul) 

Domestic fallout: Green manufacturing faces growing uncertainty 

Back home, Trump's policy reversals are already unsettling the green manufacturing boom that gained momentum under President Biden. Over the past two years, the Inflation Reduction Act (IRA) spurred more than $133 billion in private-sector investments in EVs and clean energy, tripling the size of green manufacturing investments and creating thousands of jobs. 

However, with Trump repealing EV sales mandates and several clean energy initiatives, market uncertainty has deepened, causing companies to adopt a more cautious investment outlook. Although Trump retains support from some Republican lawmakers, backlash is building in states like Georgia and North Carolina—regions that have benefited heavily from clean energy investments under the IRA. 

Thomas Stuart, a lecturer at the University of Victoria’s Gustavson School of Business, warns that although Trump has pledged to maintain critical minerals supply chains, failure to extend clean energy subsidies could stall the U.S.' energy transition—and even undermine Trump's stated goal of reshoring U.S. manufacturing. 

While some hoped state governments could continue climate leadership, Trump has recently signed an executive order empowering the Justice Department to block state-level climate, carbon, and ESG regulations. He has specifically targeted policies in states like California and New York, calling them unconstitutional. This policy reversal injects even greater uncertainty into the future of U.S. green manufacturing. 

Sources: Time, The Guardian, Carbon Brief, Green Central Banking, The Conversation 

'Trump’s First 100 Days' special series

• Trump’s first 100 days: Clean energy supply chains upended across Southeast Asia
• Trump’s first 100 days: U.S. climate rollbacks shake global green transition

※ RECCESSARY’s "Trump’s First 100 Days" special series brings you three in-depth articles, released daily, tracking Trump’s impact on the renewable energy sector.